Sensex, Nifty fall over 1% on Indo-Myanmar border tension; banks drag
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 "Nifty")
Source: NSE
Benchmark indices fell over 1% on Wednesday, losing for seventh straight session after army conducted operation along India-Myanmar border. The BSE Sensex settled at a 3-month low while the broader Nifty50 index ended at 1.5 month low ahead of the September F&O expiry.
Investors were also on edge after rupee sank to a more than six-month low on foreign fund outflows.
Investors were also on edge after rupee sank to a more than six-month low on foreign fund outflows.
The sentiment was also dampened after a Reuters poll said that the Reserve Bank of India will hold policy steady at its October 4 meeting, and well past next year, amid weak economic growth and signs inflation may soon overshoot its target.
The latest poll of 60 economists showed although the RBI will hold its key repo rate at a seven-year low of 6 percent next week, it will downgrade its growth forecast again following disruptions caused by GST.
In August, despite a neutral policy bias, India's central bank cut the key policy rate after lowering its economic growth forecast in June to 7.3% from 7.4% for the current fiscal year.
Expectations of a rate hike by the US Federal Reserve and lingering North Korean worries also dented risk appetite.
Foreign investors have net sold $777 million worth of Indian shares so far this month. They sold nearly $2 billion worth of equities in August as stretched valuations and simmering North Korea tensions saw foreign investors pulling out.
The US Federal Reserve last week reiterated it would continue gradually raising interest rates, including once more this year.
3:52 PM
Market rundwn by Anand James, Chief Market Strategist of Geojit Financial Services
Updates of military action in the Eastern border impelled the market to hasten the market’s falls which was already in a slippery slope ahead of F&O expiry. Sharp weakness in rupee and a rise in VIX also meant that risk takers were few. FII being reluctant buyer in Indian equities this month, and a volley of IPOs had earlier meant that the secondary market was finding hard to sustain at the 20 month peaks.
3:45 PM
Pharma was one of the biggest sectoral loser, down nearly 3% with Divi's Lab down over 10% for the day.
Source: NSE
3:43 PM
Markets Check
Nifty ended the day at 1.5 month low while the BSE Sensex settled at 3-month low. In broader markets, the BSE Midcap and BSE Smallcap indices shuts at 5-week low
Nifty ended the day at 1.5 month low while the BSE Sensex settled at 3-month low. In broader markets, the BSE Midcap and BSE Smallcap indices shuts at 5-week low
3:42 PM
Sectoral Trend
Source: NSE
3:39 PM
Nifty PSU Bank index ends at 2.5 month low
Nifty PSU Bank index fell over 3% with all constituents trading in red.
Nifty PSU Bank index fell over 3% with all constituents trading in red.
Source: NSE
3:36 PM
Top Sensex gainers and losers
Source: BSE
3:35 PM
Broader Markets
The broader markets underperformed the benchmark indices with the BSE Midcap and BSE Smallcap indices down 2% each
The broader markets underperformed the benchmark indices with the BSE Midcap and BSE Smallcap indices down 2% each
3:34 PM
Markets at close
Benchmark indices fell over 1% on Wednesday, losing for seventh straight session, their longest losing streak in over nine months, after army conducted operation along India-Myanmar border.
The S&P BSE Sensex settled at 31,159, down 439 points while the broader Nifty50 index ended at 9,735, down 135 points
Benchmark indices fell over 1% on Wednesday, losing for seventh straight session, their longest losing streak in over nine months, after army conducted operation along India-Myanmar border.
The S&P BSE Sensex settled at 31,159, down 439 points while the broader Nifty50 index ended at 9,735, down 135 points
3:26 PM
Army conducts operation along India-Myanmar border
The Army today inflicted "heavy casualties" on NSCN(K) cadre during an operation along the India-Myanmar border, the Eastern Command said today. READ MORE
3:14 PM
Buzzing Stock
Alstom shares rose nearly 5% following confirmation that the French firm will merge with Siemens.
The companies will merge their rail operations and have decided to make Alstom's Henri Poupart-Lafarge their chief executive.
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First Published: Sep 27 2017 | 3:30 PM IST